Dave, I Disagree With Your Thoughts On Credit Cards
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Ryan's with us in Sacramento hey Brian how are you hey how's it going better than I deserve what's up so I've been watching your show for a couple of days and I think you give really good advice but I do disagree with your thoughts on credit cards and that you know they're just bad overall the biggest is of course do we know the interest is that on it but you're on the premise that you'll spend more with a credit card than was past now that may be may be true but that's a general statement the general statistics and it doesn't apply to everyone there may be someone out there who can get a credit card and pay about the same price as if they would do with cash and then that would increase their credit score and you know such yeah my great grandmother died when she was 90 and she drank bourbon and smoked cigarettes every day and she used to say yeah these cigarettes won't kill me one of these days and cigarettes didn't kill her they didn't kill her she got away with it other stuff killed her when she was 90 anyone the Bourbon either okay does that make it okay for for me to say it sit here and say cigarettes are okay absolutely not ah so your logic flow doesn't even make sense how old are you 21 okay and well your logic flow is not what you're saying is it logical it's say it's like saying drunk drivers don't always kill someone so it's okay to drive drunk that's your logic flow and so it just it's not logical I doesn't work so here's the deal there's been multiple pieces of research done not just my opinion but multiple pieces of actual detailed in-depth research that shows that people spend more when there's a disconnect from the fact that they're spending money emotionally for instance when you spend cash there's one study that was done at MIP that says when you spend cash it activates the pain centers of the brain you feel it you have an ouch moment when you spend cash when you spend with a debit card it doesn't do it so much but does a little bit because you still connect that with the balance on your checking account emotionally they smell the credit card it doesn't activate it at all and consequently people spend more another example would be the basic friction on Amazon you bought stuff on Amazon I assume are you an Amazon Prime member yes ok and you realize you spend more because it's easier to spend right even spend that much on Amazon but when only time I would spend on it is if it's cheaper there than on a store yeah but you get the idea that the easier it is to buy something the more likely you are to spend over the course of your life now an individual transaction maybe maybe not ok I'm an Amazon Prime member actually my wife is I use her account but and so but so when I'm on there I do shop around like you're talking about I'm a fairly responsible guy with money I'm a multimillionaire the stuff I teach has worked for me and so but the bottom line is is that behavior in your in the way you handle payments does affect your spending patterns over the course of your life over the course of a year again an individual transaction maybe not and to your point some people are more disciplined than others but the concept is simply this the credit card is the cigarette of the financial world there's no upside to using it only downsides is it going to kill everyone no but it kills a bunch of people and financially speaking so why you know why handle snakes why you know rattlesnakes don't always kill you when you pick them up but most of them will or there's a good chance you know there's a better chance you're going to get bit if you fool with them then if you don't fool with them that kind of thing and so that's what it comes down to and really what it comes down to is not studying your feelings or your opinions it's say let's talk to wealthy people who have built wealth starting from nothing and ask them what they do with their payment structure and here's the stairs what we just finished the largest study of millionaires ever done and what we found in talking to the millionaires is they pay cash for everything some of them have a credit card and pay it off every month like you're talking about but none of them caring consumer debt of any kind ever they don't carry car debt they don't carry credit card debt I don't carry any debt of anything else and so I appreciate your opinion Brian but you're just wrong that's what it comes down to you're just wrong and the you know there's no possible way that we would ever tell anyone to use a credit card because it doesn't cause them to win it only has downside not upside I'm not gonna tell you to drive drunk you might get away with it but you might kill yourself or kill somebody else I'm not gonna tell you to smoke cigarettes you might be my great-grandmother and died of 90 of something else but it very likely will kill you it's a proven thing it's you know there's only downside there's no upside and so that's it I mean you know the downside is your breath stinks and when you smoke you smell like you lick the bottom of an ashtray and and everybody knows it you're something you're you know you smell your clothes smell like it anything else and credit card debt does the exact same thing to your financial world it stinks it up and you're just you're not gonna win screwing around with these things so again to your point can an individual from time to time do that yes a highly disciplined individual would be very unlikely to have major problems but there's no upside so why screw with the snakes they're cute you want to pet them I mean why screw with the snakes there's only one possibility screwing around the rattlesnakes get bet or not get bet I guess there's two possibilities maybe you're really good with snakes what does that prove nothing then proving anything at all so we stay away from them sir and I appreciate your call
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hello dear five tips if you're tempted by a zero credit card take the bait of a zero credit card here's five thousand Australian dollars loan interest free for at least a year apply for a zero credit card today that's what roughly a quarter of credit cards essentially are offering these days according to a first-ever survey by credit cards come a bank rate on website no interest credit cards which are interest free for a limited time are more common than they were just two years ago card issuers want to beef up their customer counts and are offering 0% credit card promotions debate I hope that you like the subject of this video and you can to follow up the rest or more of it click on the link in the video description dear if you like this video put him like for more informations and solutions also to get helpful tips and tricks to your problems you can to register in this modest channel thank you
Credit Card contains heavy interest rates which are a big burden for consumers. If using smartly, credit card charges can be saved.
In this video i have explained how you can avoid charges of a credit card and use it without any Mark up, Interest or Bank charges.
A zero interest credit card is the best option for you if you are tying to minimize your debt. There are many advantages that include consolidating current cards, saving money, and getting rid of all of those credit cards once and for all.
If you are finding yourself upside down in your monthly payments because your credit card balances are killing you, then you should consider a zero interest credit card.
You are not the only person that is making monthly payments on your credit card of several hundred dollars a month to see that your payment didn’t even touch the principal balance. You realize that your $200 purchase actually cost you $500 after you paid off your credit card. There are actually options for you to balance transfer credit cards onto one credit card with no interest. You can get rid of the four cards that you have and only make one easy payment each month. This eliminates confusion and having to shuffle around the bills.
You can save a lot of money with a credit card debt consolidation of a zero interest credit card. This is because your payments will actually be going toward the principal balance every month rather than toward interest. If you have too many cards, then the best thing to do is to consolidate the high interest cards. This will put more money in your pocket.
Another benefit of combining your credit cards is that you are improving your credit score. It looks much better for you to have one open credit card than several open cards with balances that you owe. Your cards will immediately look as if they are paid off and it will look as if you have one credit card with a higher debt. As you pay on the credit card, your debt will decrease, resulting in a higher credit score.
A 0% APR credit card is the best option if you are looking to consolidate your high interest credit cards into one easy monthly payment. Some cards take forever to pay off and almost seem impossible without a card to consolidate. You will be able to take advantage of the benefit of one monthly payment on your credit card and you will see your credit scores improve in no time.
When you consider consolidating your credit card debt with 0% interest credit cards, make sure you read all of the fine print. Since zero interest credit card offers usually end less than 12 months, find out how soon the cards have to be paid in normal interest rates and make sure that you afford the monthly payments at that APR.